RBC Capital Markets Launches Cash Management Solution

RBC Capital Markets has launched a cloud-native cash management solution designed for Fortune 1000 companies in the United States.

The new RBC Clear platform provides near real-time traceability and transparency of transaction lifecycles for corporate treasurers, the firm said in a Tuesday (April 16) press release.

“When we decided to explore building out a U.S. cash management business, we knew the client perspective was key in developing a solution that addressed existing pain points in the market,” Derek Neldner, CEO and group head of RBC Capital Markets, said in the release. “Our client-first culture was a significant tool in building RBC Clear, and through more than 150 conversations, we’ve developed a first-of-its-kind cash management experience.”

To help address those pain points, the new platform provides enhanced transparency with near real-time status on payments; customizable self-service functionality that lets clients choose how they want to be updated on transactions through a digital-first solution; and actionable insights that are compiled and centralized to help with day-to-day management, reporting and other tasks, according to the release.

RBC Clear also uses existing client information and an onboarding tracker to simplify onboarding, a process that is traditionally tedious, the release said.

The new platform joins the capital markets, banking and finance services that RBC Capital Markets provides to corporations, institutional investors, asset managers, private equity firms and governments, per the release.

“Our team has worked diligently to reimagine existing cash management experiences, removing limitations like manual processes, physical paper documents and numerous handoffs,” Kartik Kaushik, head of RBC Clear, said in the release. “Through client collaboration and innovative technology, we have created what we believe will be the future of cash management.”

In another recent development in this space, BNY Mellon unveiled a new cash management solution called Virtual Account-Based Solutions in January. The bank said this offering aims to provide clients with enhanced access and control over their cash administration activities and reporting capabilities.

In October, Truist Bank partnered with Trovata to enhance cash forecasting and liquidity management for the bank’s commercial and corporate clients. This collaboration provides Truist clients with improved access to Trovata’s cash management platform.

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